Why lot of countries do not allow to use Crpto? - page 20.

Fasunathan

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Quote from: kukurikapu on July 29, 2018, 07:04:28 AM

Quote from: udana123 on July 02, 2018, 12:28:15 PM

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

I think they will really find it very hard to regulate that is why they are not that confident on handling cryotocurrencies. There are still difficulties in regards to crypto that they need to learn more.

Yes, that would be very difficult for them because cryptocurrency was a decentralized body of currency. It's totally different from fiat cash economy which can be easily regulated. This currency was truly a freedom of financial system separated from government control. So they had no choice but to allow cryptocurrency be used by every people. But some countries were strict, and there were reportedly banning cryptocurrency for specific reasons.

hajimasan

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Quote from: udana123 on July 02, 2018, 12:28:15 PM

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

Because they are thinking that people are using bitcoin to do scam and also they are not paying tax and another charges during transaction , but in Actual it is not the same thing with everyone .
Those countries who banned the bitcoin and are not in the favour of the use of cryptourrency , needed to see over the cryptocurrency use in every possible ways because here we are not with the system where everything is Negative and harmful but there are only few people who are using the bitcoin for illegal works .
Here in my opinion every country who are against the cryptocurrency, should see over the rules of those countries who allowed to use cryptourrency and also how they are regualting Cryptourrency misuse to make everything clear and transparent to use .
If those countries will allow cryptourrency use then surely a big problem that is unemployment will get solve at a better extent .

tranduc2101

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Although there are many countries that do not allow people to use cryptocurrency. But most investors in the country still invest and use Bitcoin on the internet. They can not control everyone. So do not worry about this

piterpie

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These are ancient countries, and these countries do not want to develop their national economy. They are afraid of facing the difficulties of Bitcoin as the price of Bitcoin is easy to manipulate and evaporate. So they were afraid to learn about Bitcoin, and they decided to ban Bitcoin

casternetwork

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The main reason why many countries do not allow people to use cryptocurrency is that the government has negative thoughts about cryptocurrency. They think cryptocurrency is not a legitimate currency and people using cryptocurrency will face a lot of risks.

Xenoph0bia

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Quote from: tonyvo2017 on July 29, 2018, 07:53:18 AM

Quote from: udana123 on July 02, 2018, 12:28:15 PM

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

Many countries fear Bitcoin will destabilize the flow of money flowing into their country's economic system. It is possible that some unlawful money laundering activities are unknowable. But the most likely reason I can see is that the government wants to keep control of individual transactions as they do with the banks today.

Many countries do not support cryptocurrencies as they are not centralised and not under the control of any central bank or government.Cryptocurrencies are very volatile and so it is risky to invest in them as we do not know when will the prices will fall or rise.Cryptocurrencies are internet regulated and so there is a risk of getting hacked too.These cryptocurremcies are also banned in some nations too.These are also very complex to use for a common man or an illiterate.

Zigzagkuy

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Because the country is afraid that crypto will be used for illegal acts. But it depends on how everyone uses it. So you can not blame crypto. The country feared crypto would be a serious threat to a country. So they do not allow crypto. that's just my opinion.

azizfikri2

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Some countries not allow use crypto is will affect the countries income, because crypto not make a profit for some countries. Countries income from taxs and other else, but in crypto the countries can't detect who get some more benefit and not. And the countires not have regulation too for allow crypto in their countries. I think if some countries allow the crypto they must make nation exchanger. Every transaction on their exchanger have taxs and the taxs will belong their countries.

lester04

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Some countries not allow crypto cause crypto could use for money laundering online and I think one reason why some countries not accept crypto are crypto has no tax their government want their people to pay taxes and some might reason is they don't know how crypto works and keep thinking that crypto is always use to scam peoples.

TamacoBoy

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It is because they fear that it will be used by scammers to scam people. Maybe, they are not ready to adapt this kind of technology and still in the process of development.

tonyvo2017

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Quote from: udana123 on July 02, 2018, 12:28:15 PM

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

Many countries fear Bitcoin will destabilize the flow of money flowing into their country's economic system. It is possible that some unlawful money laundering activities are unknowable. But the most likely reason I can see is that the government wants to keep control of individual transactions as they do with the banks today.

agentx44

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Quote from: udana123 on July 02, 2018, 12:28:15 PM

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

In my own personal opinion, other countries do not allow to use cryptocurrencies because it is decentralized that the they cannot control it and blockchain technology could replace banks in the future. Some do not allow it because it might ruined the economy of their country, which is not true. Cryptocurrency has a lot of benefits that it reduces unemployed people in a country that gives them a good source of income.

alkiw21

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Because the government of the country thinks that crypto will lead to money laundering and also as an illegal transaction. In my personal opinion, what governments need to do is to limit each user. And just give the honest users. Maybe that's just my opinion

kukurikapu

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Quote from: udana123 on July 02, 2018, 12:28:15 PM

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

I think they will really find it very hard to regulate that is why they are not that confident on handling cryotocurrencies. There are still difficulties in regards to crypto that they need to learn more.

embargo

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The market of crypto currency has a lot of restrictions for investors to enter. And many countries limit the access to the crypt. Have not thought why? Not for all investors this market. The time will come - there will be a complete picture, but the fact that bitcoin will grow is a fact, as well as the fact that eventually all the virtual currencies will be reset to zero.

Btcepenbob

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I think alot of countries does not allow cryptocurrency trade because of scams and unsafe security features that could be break any time.

treetoneman

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I think cryptos are not allowed by some countries because in their governments
are old people who knows only how to manipulate masses and scaring small people.
They don't understand new things and are scared about innovations.
If this old generation who lived in times when there were no internet, computers,
etc. maybe it can change.

sniper23

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The governments want money, tax. Also they hate the kind of money that they can't control. Same for Banks.

rickyharun

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Quote from: Vohoanghiep on July 29, 2018, 04:15:06 AM

For the government, Bitcoin brings some disadvantage to them. It allows anonymous users, for example, to mean that no one knows their existence nor does they have to pay taxes to the government. In addition, they can trade globally without any permission or intervention from banks or governments.

they scared if bitcoin used to criminal case or to hide their asset.especially for avoid taxes.goverment need to regulate this because they want to have another source taxes.and track asset their citizen.

Linhkej

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Quote from: udana123 on July 02, 2018, 12:28:15 PM

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

Many countries do not allow the use of crypto because their government is not ready for a new tight control of these electronic coins. Crypto is really a hedge against the banks. The banking system is still operating well under their control. Perhaps they are looking to find the most beneficial way from Crypto.

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